Japanese Messaging App Line Announces Plans For Custom Blockchain
Japan-based messaging app Line announced official plans for a custom blockchain during its developer event this past Friday. Line – a subsidiary of South Korean internet giant Naver – revealed details for the blockchain in its technology roadmap for 2018.
According to the announcement, the blockchain aims to boost the development of decentralized applications (DApps) on the Line platform. According to Euivin Park, the company’s chief technology officer, the platform will be built outside of Line’s existing products. Park envisions utilizing the token economy to incentivize developers to build decentralized applications on top of the Line blockchain.
Line isn’t new to the cryptocurrency and blockchain ecosystem. Earlier this month, the company launched a South Korean-based blockchain subsidiary, Unblock, which will focus on the research and development of blockchain technologies. Moreover, the company announced plans to launch a cryptocurrency exchange – available through the Line Pay app – in January of this year.